Account Titles and Explanation Research and Development Expense Cash (To record research phase costs assuming the criteria are not fulfilled for the development phase) Intangible Assets-Patents Cash (To record legal and administrative costs incurred to obtain patent) AAccumulated Amortization-Patents (To record one year's amortization expense) List all debit entries before credit entries.) Debit 79900 15400 Credit 79900 15400

Acoount Titles and Explanation Debit Credit Researchiand Dewelopment Fxpenst 79900 Cash 79900 (To record research phase costs assuming the criteria are not fulfilled for the development phase) Intangible Assets Patents \begin{tabular}{|l|l|} \hline 15400 & \\ \hline & 15400 \\ \hline \end{tabular} Cash (To record legal and administrative costs incurred to obtain patent) Amortization Expense Accumulated Amortization Patents (To record one year's amortization expense)